I feel mining industry is already at losing end wherein the huge mining farms are still beneficial but low and mid level miners are not getting the desired result and I think this might further pull down the bleeding mining market if mining industry is dominated by some part of world wherein they get electricity at very cheap price.
Indeed, mining industry is now at risk, but still, whether China will ban Bitcoin mining still won't affect at all, as we do have enough miners and still increasing over time, although the demand is not that high now compare to the past years. China is planing to cook something that will make us curious, as there are rumors that they are developing their own coins,maybe that's the reason they are banning crypto.